Why MGM Resorts Is a Better Bet Than DraftKings in Online Gambling

The online gambling business has gotten a lot of attention from investors over the past year as betting has opened up in new markets and companies like DraftKings (NASDAQ: DKNG), Rush Street Interactive (NYSE: RSI), and Golden Nugget Online Gaming (NASDAQ: GNOG) have come public. The biggest is DraftKings, whose market cap is almost $25 billion, bigger than the more established MGM Resorts' (NYSE: MGM) $21 billion cap. 

Legacy gambling companies are trying to keep up, but in many cases it's the nimble technology upstart that ends up dominating the brick-and-mortar incumbent. MGM Resorts is trying to buck that trend with some large and lucrative partnerships. And the strategy might just be successful. 

Image source: Getty Images.

Continue reading

Source Fool.com